In our second instalment of our corporate transaction series, we look at the vital role that the due diligence process plays in making a success of any transaction. Having made the decision to acquire a business, the buyer will want to maximise the...
What are restrictive covenants?
These are restrictions, normally in your Contract of Employment, on your activities once your employment has come to an end with your current employer.
Why have restrictive covenants?
During your employment with the employer you may have become aware of commercially sensitive information or had access to key contacts or clients which the employer wishes to protect moving forward.
Are restrictive covenants binding?
You may have signed a Contract of Employment when you commenced employment containing restrictions and now that your employment is terminating, for whatever reason, you wish to know how these restrictions will affect your ability to find alternative employment or if they are enforceable. Alternatively you may have been promoted and have been asked to sign a new Contract of Employment.
We can advise on the nature and extent of the restrictions in any contractual documentation, how they may apply and your options for seeking to vary or remove the restrictions. Alternatively we can advise on any disputes, if they arise.
If you would like a confidential chat to see how we can help, please contact us.